How on earth do you set the time on this damn thing?

Anyone?
It is exasperating. I am not thick. I am a very experienced software engineer that can program in multiple languages and control machinery to uSec accuracy yet it is not obvious how you set the time on this pathetic product!
Many thanks if you can help

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The first thing I'd recommend for a 60 year old watch is to have a watchmaker clean and oil it. Over the years the oil gets thick and gummy and slows down the watch as you're experiencing. Once it's properly cleaned and oiled the watchmaker will test and adjust it to ensure that it keeps good time. This is not a DIY job but one for a trained watchmaker with the proper tools, lubricants and experience.

It's broken. Mine is doing the same thing. Others online have experienced the same defect. I bought mine from woot.com in July and just gave it to my son for Christmas. Check the Seiko website and send it in for repair. It has a 3 yr warranty.

look at the arrows, then get a thumbtack and a small hammer and a thick cloth. then put the pin in according to the arrows. start tapping it with a hammer, dont tap it all the way out, just enough so you can pull it out with a pair of pliers.hope this helps!

Here is the link to the user manual for your watch;
http://www.polarusa.com/manuals/AXN300.pdf
Check page 9 - you have to re-enter these basic settings after removing the battery, this may clear the error message although i was unable to confirm this from the manual.
contact polar on;
http://www.polarusa.com/default.asp
and you can find a service centre who can check your watch, all the necessary link software downloads etc.
Hope this helps :)